“This acquisition enhances our I&I portfolio and allows us to leverage the investments made in our global organisation to accelerate our growth in the medium and long-term.”

Celgene already has a number of inflammation and immunology drugs, Otezla (apremilast) in psoriasis and psoriatic arthritis, but is does not currently have any medicines for MS.

The Receptos pipeline also includes seven molecules in phase II development in a variety of indications, including RPC4046 for eosinophilic esophagitis, and a growing number of phase I and preclinical assets.

Faheem Hasnain, president and chief executive of Receptos, said: “In Celgene, we have found the ideal partner to maximise the potential of Ozanimod and our promising pipeline in order to improve the lives of patients worldwide.”

The majority of Celgene’s sales come from multiple myeloma treatmentRevlimid (lenalidomide), which saw sales growth of 16% last year, bringing revenue for the medicine to $4.9bn.